About the Blog….

26 year old who is grateful that I have found a job/hobby that I enjoy so much when I know so many of my generational peers are underutilised, underappreciated, unemployed or underpaid.

I am going to use this blog as a journal to catalogue my attempts at analysis and commentary on the global economy and individual investment ideas. Ultimately, as an investor of my own and other people’s money, my job is to make the best possible decisions under a state of uncertainty. In my opinion, the best way to reduce that uncertainty is through a relentless appetite for reading/information and by sharing ideas/debate with other participants who agree or disagree. Paramount to all decisions is a “Margin of Safety” that will protect me from substantial loss in the event that my analysis is somehow proved erroneous.

I work for a large Wealth Manager in the UK currently, the views expressed on this blog are entirely my own and do not reflect the views of my employer. None of the posts or comments here are intended as investment advice and should be considered only as my unique view which may or may not be correct.

I am a member at SumZero, a contributor to GuruFocus.com and a syndicated blogger to ValueWalk.com.

Enjoying the blog. Well thought out posts, it is much appreciated. Regarding JZ Capital, any notions as to how a US investor can get involved? Having some trouble finding the terms of the zero div pref shares, which is a different trade. Do you know where one can find the terms? Thanks

Excellent web site and postings. If you have the time and not already done so, would recommend: Long & Short of it John Kay, Investing Against the Tide A.Bolton, Your valuation calculations very useful and more straight forward than Damodaran ! All the best and thanks…

I have to confess that I have been slowly buying my position since around Christmas. I’m afraid the stock has moved a bit in the interim period. However, if you believe in the long term story this is still a very cheap equity.

My name is Jochem van Dalfsen, a Masters student in Finance at the University of Amsterdam.
The next several months I will have to write a Masters Thesis on a financial subject. I am really sure that I would like to write my thesis about a topic in the area of investing, since I have great interest in this area of finance (have been running investment club Heuristic Investments for the past four years) and I aim to pursuit a career in investing. In my studies, I’ve been strongly drawn to value investing. I believe it just suits me well. Straightforward, fundamental, probabilistic, disciplined, long-term-viewed, I love it. Therefore, I would like to write my Masters Thesis in the area of value investing.

I would like to ask you the following: Do you have any ideas on a specific research question in the area of value investing that you would like to have researched?
Any research question that has something to do with value investing would be great. If I like the question and decide to perform the research, then I will obviously send you a copy of the thesis when I’m finished.

Some requirements of the thesis are that it has to contribute to the existing academical research (new idea, extension of existing papers), the data needs to be available, the empirical method has to be strong and has to produce robust/reliable results (maybe add control variables, etc) and the research has to be done within three months.

Thank you very much for your time and with best regards,
Jochem van Dalfsen

Hi
Just wondering how you are getting along with the new job ?
I followed you in on Third Point . Dan Loeb is one of the best and I tend to top up now if the discount hits 20% , not been there for a bit but 40% ish up overall so thanks for the article .
Lots more I could say on AIG , BAC and Apple but don’t want to bore you .
Anyway hope it’s all going well .